It doesn’t. It’s undefined.
This doesn’t mean its value is mysterious or unknown, it means the expression “0 to the power 0” is nonsensical. The fact that you can write it down doesn’t make it valid.
The same is true of stuff like 1/0, because it means “the thing you multiply by 0 to get 1”. There is no such thing, so the expression itself is an error. And no, the answer isn’t “infinity” – infinity isn’t a number, it’s a useful shorthand which means all sorts of different things in different contexts.
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